Need more chips... Not the salty kind. Tesla posted record profit and deliveries for last quarter, and Apple had its best third quarter ever. The bad news: Apple and Tesla are the latest victims of the global chip shortage, which has been affecting everything from smartphones to cars. Apple warned that shortages will affect iPhone production, while Technoking Elon is worried about Cybertrucks. You’d think chipmakers like Intel and Samsung would be celebrating, but they're facing their own supply chain struggles.
The crackdown continues... Chinese tech stocks lost hundreds of billions of dollars of combined market cap in July, as regulators came down on giants like Alibaba (Amazon of China), Didi (Uber of China), and TikTok-owner ByteDance. The latest victims: ed tech and food delivery companies. China wants to make it cheaper for families to have more kids, and education and food represent big costs. Now, some Chinese tech companies like Weibo and Didi are reportedly considering going private to avoid more volatility.